8-K 1 pmac981_8k3qtr01.txt JUL 25, AUG 27 SEP 25, 2001 PDS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 -------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 --------------- Date of Report (Date of earliest event reported) : July 25, 2001 PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV (as depositor under a Pooling and Servicing Agreement, dated as of July 1, 1998, providing for, inter alia, the issuance of PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1) PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV (Exact name of registrant as specified in its charter) Delaware 333-15685-01 06-1204982 State or Other Jurisdiction (Commission (IRS Employer of Incorporation ) File Number) Identification No.) 1285 Avenue of the Americas New York, New York 10019 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code :(212)713-2000 N/A (Former name or former address, if changed since last report.) Item 5. Other Events. This report and the attached exhibit is being filed with respect to the Registrant's PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1 (the "Certificates") pursuant to "no-action" positions taken by the Securities and Exchange Commission with respect to alternative means of satisfying the Registrant's reporting obligations under the Securities Exchange Act of 1934, as amended. The Certificates were issued, and this report and exhibit is being filed, pursuant to the terms of the Pooling and Servicing Agreement, dated as of July 1, 1998 among PaineWebber Mortgage Acceptance Corp. IV, as depositor, Provident Funding Accociates, L.P., as originator, Provident Funding Associates, L.P., as servicer, and The Chase Manhattan Bank, as trustee. On July 25, 2001, August 27, 2001, and September 25, 2001 distributions were made to the Certificateholders. Specific information with respect to the distributions is filed as Exhibit 99.1, Exhibit 99.2, and Exhibit 99.3. No other reportable transactions or matters have occurred during the current reporting period. Item 7. Financial Statements and Exhibits. (a) Not applicable. (b) Not applicable. (c) The following exhibits are filed as part of this report: Statement to Certificateholders on July 25, 2001 is filed as Exhibit 99.1 hereto. Statement to Certificateholders on August 27, 2001 is filed as Exhibit 99.2 hereto. Statement to Certificateholders on September 25, 2001 is filed as Exhibit 99.3 hereto. -2- PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-1 ---------------------------------------------------------------------------- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. JPMORGAN CHASE BANK, fka The Chase Manhattan Bank, not in its individual capacity but solely as Trustee under the Agreement referred to herein Date: November 19, 2002 By: /s/ Diane E. Wallace --------------------------------------- Diane E. Wallace Assistant Vice President -3- INDEX TO EXHIBITS Exhibit Number Description of Exhibits 99.1 Monthly Certificateholder Statement on July 25, 2001 99.2 Monthly Certificateholder Statement on August 27, 2001 99.3 Monthly Certificateholder Statement on September 25, 2001 -4- Exhibit 99.1 Monthly Certificateholder Statement on July 25, 2001 PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1 Statement to Certificate Holders July 25, 2001 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- A1 168,680,000.00 76,360,182.42 4,115,983.62 429,526.03 4,545,509.65 0.00 0.00 72,244,198.80 A2 16,360,500.00 16,360,500.00 0.00 88,619.38 88,619.38 0.00 0.00 16,360,500.00 A3 5,330,000.00 5,330,000.00 0.00 31,091.67 31,091.67 0.00 0.00 5,330,000.00 A4 11,030,500.00 11,030,500.00 0.00 64,344.58 64,344.58 0.00 0.00 11,030,500.00 A5 9,750,000.00 9,750,000.00 0.00 37,415.63 37,415.63 0.00 0.00 9,750,000.00 A6 3,250,000.00 3,250,000.00 0.00 35,709.38 35,709.38 0.00 0.00 3,250,000.00 A7 19,852,941.00 19,852,941.00 0.00 75,358.46 75,358.46 0.00 0.00 19,852,941.00 A8 5,147,059.00 5,147,059.00 0.00 65,266.51 65,266.51 0.00 0.00 5,147,059.00 PO 213,572.38 177,077.27 233.61 0.00 233.61 0.00 0.00 176,843.66 AR 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M 4,629,500.00 4,487,313.52 4,706.17 25,241.14 29,947.31 0.00 0.00 4,482,607.35 B1 2,377,000.00 2,303,994.84 2,416.37 12,959.97 15,376.34 0.00 0.00 2,301,578.47 B2 1,376,000.00 1,333,738.70 1,398.79 7,502.28 8,901.07 0.00 0.00 1,332,339.91 B3 751,000.00 727,934.43 763.44 4,094.63 4,858.07 0.00 0.00 727,170.99 B4 751,000.00 727,934.43 763.44 4,094.63 4,858.07 0.00 0.00 727,170.99 B5 751,363.93 728,287.50 763.81 4,096.62 4,860.43 0.00 0.00 727,523.69 TOTALS 250,250,536.31 157,567,463.11 4,127,029.25 885,320.91 5,012,350.16 0.00 0.00 153,440,433.86 AX 229,442,969.52 139,879,915.12 0.00 42,154.97 42,154.97 0.00 0.00 135,779,087.31 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ---------------------- BEGINNING ENDING CURRENT CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE --------------------------------------------------------------------------------------------------------- ---------------------- A1 69573CAT2 452.69256829 24.40113600 2.54639572 26.94753172 428.29143230 A1 6.750000 % A2 69573CAU9 1,000.00000000 0.00000000 5.41666697 5.41666697 1,000.00000000 A2 6.500000 % A3 69573CAV7 1,000.00000000 0.00000000 5.83333396 5.83333396 1,000.00000000 A3 7.000000 % A4 69573CAW5 1,000.00000000 0.00000000 5.83333303 5.83333303 1,000.00000000 A4 7.000000 % A5 69573CAX3 1,000.00000000 0.00000000 3.83750051 3.83750051 1,000.00000000 A5 4.605000 % A6 69573CAY1 1,000.00000000 0.00000000 10.98750154 10.98750154 1,000.00000000 A6 13.185000 % A7 69573CAZ8 1,000.00000000 0.00000000 3.79583357 3.79583357 1,000.00000000 A7 4.555000 % A8 69573CBA2 1,000.00000000 0.00000000 12.68035008 12.68035008 1,000.00000000 A8 15.216421 % PO 69573CBC8 829.12064753 1.09382121 0.00000000 1.09382121 828.02682632 PO 0.000000 % AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 6.750000 % M 69573CBE4 969.28686035 1.01656118 5.45223890 6.46880009 968.27029917 M 6.750000 % B1 69573CBF1 969.28684897 1.01656289 5.45223812 6.46880101 968.27028607 B1 6.750000 % B2 69573CBG9 969.28684593 1.01656250 5.45223837 6.46880087 968.27028343 B2 6.750000 % B3 69573CBH7 969.28685752 1.01656458 5.45223702 6.46880160 968.27029294 B3 6.750000 % B4 69573CBJ3 969.28685752 1.01656458 5.45223702 6.46880160 968.27029294 B4 6.750000 % B5 69573CBK0 969.28728000 1.01656464 5.45224469 6.46880933 968.27071536 B5 6.750000 % TOTALS 629.63886285 16.49159003 3.53773831 20.02932834 613.14727282 AX 69573CBB0 609.65003815 0.00000000 0.18372744 0.18372744 591.77706597 AX 0.361638 % ---------------------------------------------------------------------------------------------------------- ------------------------ IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Robert Wainwright The Chase Manhattan Bank - Structured Finance Services 450 West 33 St, 14th fl, New York, New York 10001 Tel: (212)946-7551 Email: robert.wainwright@chase.com Copyright 2000 Chase Manhattan Corporation Total Funds 5,056,146.54 Sec. 4.04 (a)(i) Aggregate Principal Prepayment Amount 3,961,760.19 Aggregate Liquidation Proceeds Amount 0.00 Sec. 4.06(ii) Unpaid Interest Shortfalls for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Shortfalls Paid for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Sec. 4.06(v) Beginning Pool Stated Principal Balance 157,567,462.82 Ending Pool Stated Principal Balance 153,440,433.58 Sec. 4.06(vi) Senior Percentage for the following distribution date 93.281 % Subordinate Percentage for the following distribution date 6.719 % Sec. 4.06(vii) Master Servicing Fees 32,826.56 Trustee Fees 1,641.33 Sec. 4.06(ix) Current Advance 27,178.65 Aggregate Advances Outstanding 27,178.65 Sec. 4.06(x) Number and Aggregate Principal Balance of Delinquent Mortgage Loans Group 1 PERIOD NUMBER PRINCIPAL PERCENTAGE BALANCE --------------------------------------------------------------- 0-30 days 12 3,804,363.16 2.48 % 31-60 days 0 0.00 0.00 % 61-90 days 0 0.00 0.00 % 91+days 0 0.00 0.00 % Total 12 3,804,363.16 2.48 % --------------------------------------------------------------- Loans in Foreclosure Group 1 NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Total Number and Principal Balances of the REO Properties Group Totals NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Sec. 4.06(xiii) Senior Prepayment Percentage 100.00 % Sec. 4.06(xiv) Current Amount of Realized Losses 0.00 Sec. 4.06 (xv) Special Hazard Loss Coverage Amount 3,494,873.73 Fraud Loss Coverage Amount 1,534,404.34 Bankruptcy Loss Coverage Amount 100,000.00 Copyright 2000 Chase Manhattan Corporation

Exhibit 99.2 Monthly Certificateholder Statement on August 27, 2001 PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1 Statement to Certificate Holders August 27, 2001 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- A1 168,680,000.00 72,244,198.80 4,423,904.50 406,373.62 4,830,278.12 0.00 0.00 67,820,294.30 A2 16,360,500.00 16,360,500.00 0.00 88,619.38 88,619.38 0.00 0.00 16,360,500.00 A3 5,330,000.00 5,330,000.00 0.00 31,091.67 31,091.67 0.00 0.00 5,330,000.00 A4 11,030,500.00 11,030,500.00 0.00 64,344.58 64,344.58 0.00 0.00 11,030,500.00 A5 9,750,000.00 9,750,000.00 0.00 37,314.06 37,314.06 0.00 0.00 9,750,000.00 A6 3,250,000.00 3,250,000.00 0.00 35,810.94 35,810.94 0.00 0.00 3,250,000.00 A7 19,852,941.00 19,852,941.00 0.00 75,151.65 75,151.65 0.00 0.00 19,852,941.00 A8 5,147,059.00 5,147,059.00 0.00 65,473.31 65,473.31 0.00 0.00 5,147,059.00 PO 213,572.38 176,843.66 226.78 0.00 226.78 0.00 0.00 176,616.88 AR 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M 4,629,500.00 4,482,607.35 4,743.24 25,214.67 29,957.91 0.00 0.00 4,477,864.11 B1 2,377,000.00 2,301,578.47 2,435.40 12,946.38 15,381.78 0.00 0.00 2,299,143.07 B2 1,376,000.00 1,332,339.91 1,409.81 7,494.41 8,904.22 0.00 0.00 1,330,930.10 B3 751,000.00 727,170.99 769.45 4,090.34 4,859.79 0.00 0.00 726,401.54 B4 751,000.00 727,170.99 769.45 4,090.34 4,859.79 0.00 0.00 726,401.54 B5 751,363.93 727,523.69 769.78 4,092.32 4,862.10 0.00 0.00 726,753.91 TOTALS 250,250,536.31 153,440,433.86 4,435,028.41 862,107.67 5,297,136.08 0.00 0.00 149,005,405.45 AX 229,442,969.52 135,779,087.31 0.00 40,695.76 40,695.76 0.00 0.00 131,370,456.46 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ---------------------- BEGINNING ENDING CURRENT CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE --------------------------------------------------------------------------------------------------------- ---------------------- A1 69573CAT2 428.29143230 26.22660956 2.40913932 28.63574887 402.06482274 A1 6.750000 % A2 69573CAU9 1,000.00000000 0.00000000 5.41666697 5.41666697 1,000.00000000 A2 6.500000 % A3 69573CAV7 1,000.00000000 0.00000000 5.83333396 5.83333396 1,000.00000000 A3 7.000000 % A4 69573CAW5 1,000.00000000 0.00000000 5.83333303 5.83333303 1,000.00000000 A4 7.000000 % A5 69573CAX3 1,000.00000000 0.00000000 3.82708308 3.82708308 1,000.00000000 A5 4.592500 % A6 69573CAY1 1,000.00000000 0.00000000 11.01875077 11.01875077 1,000.00000000 A6 13.222500 % A7 69573CAZ8 1,000.00000000 0.00000000 3.78541648 3.78541648 1,000.00000000 A7 4.542500 % A8 69573CBA2 1,000.00000000 0.00000000 12.72052836 12.72052836 1,000.00000000 A8 15.264635 % PO 69573CBC8 828.02682632 1.06184142 0.00000000 1.06184142 826.96498489 PO 0.000000 % AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 6.750000 % M 69573CBE4 968.27029917 1.02456853 5.44652122 6.47108975 967.24573064 M 6.750000 % B1 69573CBF1 968.27028607 1.02456878 5.44652082 6.47108961 967.24571729 B1 6.750000 % B2 69573CBG9 968.27028343 1.02457122 5.44651890 6.47109012 967.24571221 B2 6.750000 % B3 69573CBH7 968.27029294 1.02456724 5.44652463 6.47109188 967.24572570 B3 6.750000 % B4 69573CBJ3 968.27029294 1.02456724 5.44652463 6.47109188 967.24572570 B4 6.750000 % B5 69573CBK0 968.27071536 1.02451019 5.44652177 6.47103195 967.24620518 B5 6.750000 % TOTALS 613.14727282 17.72235327 3.44497831 21.16733158 595.42491955 AX 69573CBB0 591.77706597 0.00000000 0.17736765 0.17736765 572.56257071 AX 0.359664 % ---------------------------------------------------------------------------------------------------------- ------------------------ IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Robert Wainwright The Chase Manhattan Bank - Structured Finance Services 450 West 33 St, 14th fl, New York, New York 10001 Tel: (212)946-7551 Email: robert.wainwright@chase.com Copyright 2000 Chase Manhattan Corporation Total Funds 5,339,430.16 Sec. 4.04 (a)(i) Aggregate Principal Prepayment Amount 4,272,650.04 Aggregate Liquidation Proceeds Amount 0.00 Sec. 4.06(ii) Unpaid Interest Shortfalls for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Shortfalls Paid for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Sec. 4.06(v) Beginning Pool Stated Principal Balance 153,440,433.58 Ending Pool Stated Principal Balance 149,005,405.14 Sec. 4.06(vi) Senior Percentage for the following distribution date 93.088 % Subordinate Percentage for the following distribution date 6.912 % Sec. 4.06(vii) Master Servicing Fees 31,966.76 Trustee Fees 1,598.34 Sec. 4.06(ix) Current Advance 21,909.00 Aggregate Advances Outstanding 21,909.00 Sec. 4.06(x) Number and Aggregate Principal Balance of Delinquent Mortgage Loans Group 1 PERIOD NUMBER PRINCIPAL PERCENTAGE BALANCE --------------------------------------------------------------- 0-30 days 7 2,684,802.96 1.80 % 31-60 days 1 381,179.80 0.26 % 61-90 days 0 0.00 0.00 % 91+days 0 0.00 0.00 % Total 8 3,065,982.76 2.06 % --------------------------------------------------------------- Loans in Foreclosure Group 1 NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Total Number and Principal Balances of the REO Properties Group Totals NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Sec. 4.06(xiii) Senior Prepayment Percentage 100.00 % Sec. 4.06(xiv) Current Amount of Realized Losses 0.00 Sec. 4.06 (xv) Special Hazard Loss Coverage Amount 3,491,202.85 Fraud Loss Coverage Amount 1,534,404.34 Bankruptcy Loss Coverage Amount 100,000.00 Copyright 2000 Chase Manhattan Corporation

Exhibit 99.3 Monthly Certificateholder Statement on September 25, 2001 PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1 Statement to Certificate Holders September 25, 2001 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- A1 168,680,000.00 67,820,294.30 2,408,159.87 381,489.16 2,789,649.03 0.00 0.00 65,412,134.43 A2 16,360,500.00 16,360,500.00 0.00 88,619.38 88,619.38 0.00 0.00 16,360,500.00 A3 5,330,000.00 5,330,000.00 0.00 31,091.67 31,091.67 0.00 0.00 5,330,000.00 A4 11,030,500.00 11,030,500.00 0.00 64,344.58 64,344.58 0.00 0.00 11,030,500.00 A5 9,750,000.00 9,750,000.00 0.00 35,587.50 35,587.50 0.00 0.00 9,750,000.00 A6 3,250,000.00 3,250,000.00 0.00 37,537.50 37,537.50 0.00 0.00 3,250,000.00 A7 19,852,941.00 19,852,941.00 0.00 71,636.03 71,636.03 0.00 0.00 19,852,941.00 A8 5,147,059.00 5,147,059.00 0.00 68,988.94 68,988.94 0.00 0.00 5,147,059.00 PO 213,572.38 176,616.88 237.21 0.00 237.21 0.00 0.00 176,379.67 AR 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M 4,629,500.00 4,477,864.11 4,786.29 25,187.99 29,974.28 0.00 0.00 4,473,077.82 B1 2,377,000.00 2,299,143.07 2,457.50 12,932.68 15,390.18 0.00 0.00 2,296,685.57 B2 1,376,000.00 1,330,930.10 1,422.60 7,486.48 8,909.08 0.00 0.00 1,329,507.50 B3 751,000.00 726,401.54 776.43 4,086.01 4,862.44 0.00 0.00 725,625.11 B4 751,000.00 726,401.54 776.43 4,086.01 4,862.44 0.00 0.00 725,625.11 B5 751,363.93 726,753.91 776.81 4,087.99 4,864.80 0.00 0.00 725,977.10 TOTALS 250,250,536.31 149,005,405.45 2,419,393.14 837,161.92 3,256,555.06 0.00 0.00 146,586,012.31 AX 229,442,969.52 131,370,456.46 0.00 39,274.85 39,274.85 0.00 0.00 128,982,071.88 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ---------------------- BEGINNING ENDING CURRENT CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE --------------------------------------------------------------------------------------------------------- ---------------------- A1 69573CAT2 402.06482274 14.27649911 2.26161465 16.53811377 387.78832363 A1 6.750000 % A2 69573CAU9 1,000.00000000 0.00000000 5.41666697 5.41666697 1,000.00000000 A2 6.500000 % A3 69573CAV7 1,000.00000000 0.00000000 5.83333396 5.83333396 1,000.00000000 A3 7.000000 % A4 69573CAW5 1,000.00000000 0.00000000 5.83333303 5.83333303 1,000.00000000 A4 7.000000 % A5 69573CAX3 1,000.00000000 0.00000000 3.65000000 3.65000000 1,000.00000000 A5 4.380000 % A6 69573CAY1 1,000.00000000 0.00000000 11.55000000 11.55000000 1,000.00000000 A6 13.860000 % A7 69573CAZ8 1,000.00000000 0.00000000 3.60833340 3.60833340 1,000.00000000 A7 4.330000 % A8 69573CBA2 1,000.00000000 0.00000000 13.40356503 13.40356503 1,000.00000000 A8 16.084278 % PO 69573CBC8 826.96498489 1.11067733 0.00000000 1.11067733 825.85430757 PO 0.000000 % AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 6.750000 % M 69573CBE4 967.24573064 1.03386759 5.44075818 6.47462577 966.21186305 M 6.750000 % B1 69573CBF1 967.24571729 1.03386622 5.44075726 6.47462347 966.21185107 B1 6.750000 % B2 69573CBG9 967.24571221 1.03386628 5.44075581 6.47462209 966.21184593 B2 6.750000 % B3 69573CBH7 967.24572570 1.03386152 5.44075899 6.47462051 966.21186418 B3 6.750000 % B4 69573CBJ3 967.24572570 1.03386152 5.44075899 6.47462051 966.21186418 B4 6.750000 % B5 69573CBK0 967.24620518 1.03386650 5.44075891 6.47462542 966.21233867 B5 6.750000 % TOTALS 595.42491955 9.66788394 3.34529521 13.01317914 585.75703561 AX 69573CBB0 572.56257071 0.00000000 0.17117478 0.17117478 562.15307948 AX 0.358755 % ---------------------------------------------------------------------------------------------------------- ------------------------ IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Robert Wainwright JPMorgan Chase Bank - Structured Finance Services 450 West 33 St, 14th fl, New York, New York 10001 Tel: (212)946-7551 Email: robert.wainwright@chase.com Copyright 2000 Chase Manhattan Corporation Total Funds 3,297,382.04 Sec. 4.04 (a)(i) Aggregate Principal Prepayment Amount 2,260,108.49 Aggregate Liquidation Proceeds Amount 0.00 Sec. 4.06(ii) Unpaid Interest Shortfalls for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Shortfalls Paid for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Sec. 4.06(v) Beginning Pool Stated Principal Balance 149,005,405.14 Ending Pool Stated Principal Balance 146,586,011.99 Sec. 4.06(vi) Senior Percentage for the following distribution date 92.981 % Subordinate Percentage for the following distribution date 7.019 % Sec. 4.06(vii) Master Servicing Fees 31,042.80 Trustee Fees 1,552.14 Sec. 4.06(ix) Current Advance 30,070.00 Aggregate Advances Outstanding 30,070.00 Sec. 4.06(x) Number and Aggregate Principal Balance of Delinquent Mortgage Loans Group 1 PERIOD NUMBER PRINCIPAL PERCENTAGE BALANCE --------------------------------------------------------------- 0-30 days 11 3,720,097.20 2.54 % 31-60 days 1 119,196.68 0.08 % 61-90 days 1 380,799.83 0.26 % 91+days 0 0.00 0.00 % Total 13 4,220,093.71 2.88 % --------------------------------------------------------------- Loans in Foreclosure Group 1 NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Total Number and Principal Balances of the REO Properties Group Totals NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Sec. 4.06(xiii) Senior Prepayment Percentage 100.00 % Sec. 4.06(xiv) Current Amount of Realized Losses 0.00 Sec. 4.06 (xv) Special Hazard Loss Coverage Amount 3,234,053.05 Fraud Loss Coverage Amount 1,534,404.34 Bankruptcy Loss Coverage Amount 100,000.00 Copyright 2000 Chase Manhattan Corporation

MORTGAGE PASS THR CERTS SER 1998-1 8-K